Senior Cooperative Housing:
• What is a Senior Housing Cooperative?
Cooperative housing means joint ownership and operation of a housing
development by those who live in it. Cooperative members are, in
effect, their own landlords, enabling the cooperative community
to be built and operated at a very affordable cost. Each member
purchases a share in the limited equity corporation. These shares
provide the equity to secure a mortgage. These individual shareholding
members have equal voting status in electing the cooperative board
of directors from their membership.Cooperative housing combines the advantages and pride of home ownership with convenience of community living. Maintenance-free, secure, with a voice in community affairs, cooperative living represents a new choice for independent, active adults 55 and better.
Located in beautiful Hamilton, Montana, Riverside Crossing will
be Montana's first Senior Cooperative. Preliminary construction
is underway! The entrance is paved and accented with a beautiful
sidewalk in addition to all the utility work from the road to where
the new Coop residences will reside. Landscaping foundations of
enriched soil have been graded and smoothed into place in anticipation
of building construction.Contact the Council on Aging at 363-5690 or visit the Riverside Crossing website at www.riversidecrossingcoop.com for more information.